Charter Communications (NASDAQ:CHTR) Sets New 52-Week Low – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $183.75 and last traded at $187.37, with a volume of 2394537 shares. The stock had previously closed at $184.20.

Analysts Set New Price Targets

A number of analysts have issued reports on CHTR shares. Oppenheimer lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. UBS Group cut their target price on shares of Charter Communications from $355.00 to $233.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. BNP Paribas Exane reduced their target price on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. Zacks Research downgraded shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Finally, Benchmark reduced their price objective on Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, Charter Communications currently has an average rating of “Reduce” and a consensus price target of $314.87.

Charter Communications Stock Performance

The stock’s 50-day simple moving average is $202.81 and its 200 day simple moving average is $251.08. The company has a market capitalization of $24.81 billion, a PE ratio of 5.32, a P/E/G ratio of 0.53 and a beta of 1.06. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The firm had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.82 EPS. As a group, research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David C. Merritt sold 1,200 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the transaction, the director owned 10,146 shares in the company, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new stake in Charter Communications during the second quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in Charter Communications during the 2nd quarter worth $28,000. Webster Bank N. A. acquired a new stake in Charter Communications during the 3rd quarter worth $28,000. Heritage Wealth Advisors purchased a new stake in Charter Communications in the second quarter valued at $29,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Charter Communications in the third quarter valued at $30,000. 81.76% of the stock is owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.